Bulletin Number
VTB 83-6
Tax Type
Forest Products Tax
Description
Certain Small Manufacturers
Topic
Basis of Tax
Rate of Tax
Date Issued
05-20-1983
Virginia Department of Taxation
83-6
DATE: May 20, 1983
SUBJECT: Annual Forest Products Tax on Certain Small Manufacturers
Senate Bill 789 Chapter 109 of the 1983 Acts of the Assembly, amended § 58-838.8, Code of Virginia,to increase the forest products flat annual tax on small manufacturers of rough lumber. The 1983 amendments increase the flat annual tax on manufacturers of 300,000 to 500,000 board feet of rough lumber from $258.00 to $460.00. For manufacturers of less than 300,000 board feet of rough lumber the flat annual tax increases from $129.00 to $230.00. The bill is effective July 1, 1983.
Since Senate Bill 78 is effective July 1, 1983, the forest products flat annual tax on small manufacturers prior to amendment is applicable for the first six months of 1983 and the amended increased flat annual tax is applicable for the last six months of 1983. For manufacturers who annually manufacture 300,000 to 500,000 board feet of rough lumber, the 1983 annual flat tax is $359.00 (1/2 x $258.00 plus 1/2 x $460.00). For manufacturers who annually manufacture less than 300,000 board feet of rough lumber, the 1983 annual flat tax is $179.50 (1/2 x $129.00 plus 1/2 X $230.00). For years after 1983 the increased rates are applicable for the entire year.
Anyone having questions regarding this bulletin should contact the Department of Taxation, P.O. Box 6-L, Richmond. Virginia 23282.
Tax Bulletins